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. >> we might get a free pass, sandy pass no mat what they are. if they're disas truss it was sandy. if the economy is great --. ashley: so difficult to trade in this environment right now. >> it is so difficult to trade. people have to be very aware. that is the key word you use, trade. do you want to be a trader or do you want to be an investor? so many people tell me, charles, i don't want to be trader. they buy at 30, goes to 28.04, oh, my god i need to sell it, i'm losing my shirt!. what the heck. i thought you didn't want to be a trader? one of the reasons i'm getting a little bit bullish about the market in general. i'm a individual stock guy. i don't like to do the macro thing. i like the way the market acts. we've seen a shaking out of the weak sisters. we had the market pull back sharply. we saw the pullback in apple. weak holders of stocks, weak sisters have for the most part been shaken out. it would take disasterous news --. ashley: talking about disaster, what if we went over the cliff? >> if we did go over the cliff and saw the mark
. >> we might get a free pass, sandy pass no mat what they are. if they're disas truss it was sandy. if the economy is great --. ashley: so difficult to trade in this environment right now. >> it is so difficult to trade. people have to be very aware. that is the key word you use, trade. do you want to be a trader or do you want to be an investor? so many people tell me, charles, i don't want to be trader. they buy at 30, goes to 28.04, oh, my god i need to sell it, i'm losing my...
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Dec 9, 2012
12/12
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sandy, the worst storm to ever hit the jersey shore, also leaving a huge financial dent. new jersey governor chris christie announcing the preliminary cost of the damage is a record-high $29.4 billion, a number expected to rise. new york governor andrew cuomo also planning to ask the federal government for at least $30 billion to help his state in its recovery. meanwhile, new york is getting $27 million in federal funds to hire more than 5,000 sandy cleanup workers. holiday shopping season is off to a record start -- 247 million shoppers visiting stores and websites over the four-day weekend starting on thanksgiving, spending totaling over $59 billion, with the average holiday shopper spending $423. but if you're in the market for a partridge in a pear tree or seven swans a-swimming, you better start saving. this year's "twelve days of christmas" gift list will cost you over $100,000. for "teen kids news," i'm lauren green, "fox news channel in the classroom." >> we're going to take you back to early 1940s. world war ii was raging. here at home, the u.s. government put in
sandy, the worst storm to ever hit the jersey shore, also leaving a huge financial dent. new jersey governor chris christie announcing the preliminary cost of the damage is a record-high $29.4 billion, a number expected to rise. new york governor andrew cuomo also planning to ask the federal government for at least $30 billion to help his state in its recovery. meanwhile, new york is getting $27 million in federal funds to hire more than 5,000 sandy cleanup workers. holiday shopping season is...
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Dec 6, 2012
12/12
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FOXNEWSW
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forget about sandy, 370,000 is a high number. here we are raising taxes on everybody who worked by $120 billion. maybe we'll also raise taxes on richer people, wealthier people. raise the tax on dividends and interest and capital gains. that amount to a big tax increase in a weak economy. should we be doing that? >> what we are told is all across the board this is what has to happen. we need revenues brought into the federal government. a lot of people unhappy with that model. but that what's they are arguing. >> reporter: that's what they are arguing. but the president wants higher tax rates on the rich web's standing firm on that. the republicans are not going to say caved but they agreed to $800 billion in extra tax revenues over 10 years. so yes a tax increase is coming in one form or another. and you add that to the payroll tax increase and you have got a big tax increase coming count pike in a weak economy. martha: it will hurt across the board from the top to the bottom. everybody's financial picture will look different in
forget about sandy, 370,000 is a high number. here we are raising taxes on everybody who worked by $120 billion. maybe we'll also raise taxes on richer people, wealthier people. raise the tax on dividends and interest and capital gains. that amount to a big tax increase in a weak economy. should we be doing that? >> what we are told is all across the board this is what has to happen. we need revenues brought into the federal government. a lot of people unhappy with that model. but that...
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employers added 146,000 jobs last month, defying the predictions and the disruption of hurricane sandy. the unemployment rate fell to 7.7%, that's the lowest level in four years. but tonight, 12 million americans are still unemployed. and the new jobs number, the fiscal cliff, all of it will be on the table when george stephanopoulos sits down with a turbocharged powerhouse round table. james carville, mary matalin and nobel prize-winning economist paul krugman, on sunday for "this week." >>> and now, we go overseas to syria, where people are fleeing amid fears that the assad regime will unleash chemical weapons. the region around the capital, damascus, now a battle zone. 2 million syrians now on the run, many of them children. and it is extremely difficult for journalists to enter that country and cover the chaos. but abc's alex marquardt pushed across the border tonight and he is there. alex? >> reporter: we've spent the day among the thousands of refugees living here, and the conditions are miserable. rain has turned the roads to rivers of mud, there's no power or gas for heat, and
employers added 146,000 jobs last month, defying the predictions and the disruption of hurricane sandy. the unemployment rate fell to 7.7%, that's the lowest level in four years. but tonight, 12 million americans are still unemployed. and the new jobs number, the fiscal cliff, all of it will be on the table when george stephanopoulos sits down with a turbocharged powerhouse round table. james carville, mary matalin and nobel prize-winning economist paul krugman, on sunday for "this...
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Dec 5, 2012
12/12
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CNBC
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you have fiscal cliff, you have hurricane sandy. are you optimistic about what's happening in the economy if you take out the potential shocks? >> i don't think we make any change at all. i think the job market is producing 150,000 jobs per month, that's what we've been producing since the beginning of the year, over the past year, past two years, some months we're a little lower, higher, sometimes seasonal adjustment. if you take this month's number and x out sandy, that's over 200,000. >> that will add some jobs, that's not a fair comparison. >> so 200,000 minus 60 is 150 -- >> so you're right there. >> i don't think the economy has chang chang changed deappreciably over the last year. >> well, i think coming into friday's number, we're a little -- we don't think there's 80,000 worth of impact, might be closer to 40,000 or 50,000. whatever, there's been an impact and i agree with mark's point, 1 in about 150,000 job creation in the economy and i don't know that meaningfully changes. but i would say, if anything, the bias next year
you have fiscal cliff, you have hurricane sandy. are you optimistic about what's happening in the economy if you take out the potential shocks? >> i don't think we make any change at all. i think the job market is producing 150,000 jobs per month, that's what we've been producing since the beginning of the year, over the past year, past two years, some months we're a little lower, higher, sometimes seasonal adjustment. if you take this month's number and x out sandy, that's over 200,000....
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. >> hurricane sandy hit in a major population portion in the united states. we saw people driving a whole lot less. >> with plenty of gas going around, and not much demand, we the consumer have the upper hand. many are taking the opportunity to fill up and enjoy while it lasts. so, where can you find the cheapest gas? according to gusbuddy.com, the honor goes to missouri at nearly $3. but the good news for everyone around the country, experts predict we'll see these prices stay down at least until february. dan and bianna. >> good tips and good news finally. >>> we're 23 days and counting until the nation falls off the fiscal cliff. president obama and house speaker boehner are going on with negotiations. >> we had another week of massive trash-talking, are we closer or further away from getting a deal? >> they're not really talking right now. that's what's most incredible. there were speeches all week long. lot of ads on television. less than an hour of negotiations. one-hour phone call between to president obama and house speaker boehner. democrats say they
. >> hurricane sandy hit in a major population portion in the united states. we saw people driving a whole lot less. >> with plenty of gas going around, and not much demand, we the consumer have the upper hand. many are taking the opportunity to fill up and enjoy while it lasts. so, where can you find the cheapest gas? according to gusbuddy.com, the honor goes to missouri at nearly $3. but the good news for everyone around the country, experts predict we'll see these prices stay...
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Dec 4, 2012
12/12
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MSNBCW
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the virus and should take care of 90% of the flu cases. >>> a rare positive side effect to hurricane sandy, the auto industry reports that cars have been flying off the lots. mandy drur ree is here with what is moving your car sales. >> car sales rose 15%. you were saying it. we had to see a lot of replacement of cars and trucks damaged in the hurricane. but at the end of the day it's contributed to the industry's best monthly sales rate in four years. for example, chrysler continued an amazing year with november sales up about 14.4%. all in all, if you put it all together, it totals exceeding most forecasts and hopefully also back up some of the forecasts that the revival of the industry could continue into next year as well. if november was a good month, this month has the potential to be even better as the replacement continues. chris in. >> from good sales news to bad sales news, new year's eve couldn't come soon off for champagne sales producers. they have gone down. what is going on? >> demand is eroding. bubbly sales is a festive but in the first nine months of this year, shipments
the virus and should take care of 90% of the flu cases. >>> a rare positive side effect to hurricane sandy, the auto industry reports that cars have been flying off the lots. mandy drur ree is here with what is moving your car sales. >> car sales rose 15%. you were saying it. we had to see a lot of replacement of cars and trucks damaged in the hurricane. but at the end of the day it's contributed to the industry's best monthly sales rate in four years. for example, chrysler...
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Dec 9, 2012
12/12
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WBAL
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. >> two area families joined forces to help victims of superstorm sandy celebrate the holidays. they collected donations and stuffed a truck full of toys. we first introduced you to 5-year-old sadey and 6-year-old tyler on 11 news earlier this week. when they learned each family was gathering toys to give to children who lost everything in the storm, they teamed up with the goal to fill this truck outside of target in white matt schaub. >> schaub -- marsh. >> we never thought we'd be able to fill a trailer so we are stuffing this truck today and taking it out next weekend to the kids who lost everything. >> sadey's mom says they're grateful for all of the and the families plan to drive the truck next weekend to point pleasant, new jersey. >> and hundreds of families with loved ones deployed overseas by the military have christmas trees in their homes this morning thanks to local business. the staff of the hubbard funeral home worked with the national guard to identify families that might need extra help in the holiday season. yesterday, they gave away close to 300 trees. >> it's
. >> two area families joined forces to help victims of superstorm sandy celebrate the holidays. they collected donations and stuffed a truck full of toys. we first introduced you to 5-year-old sadey and 6-year-old tyler on 11 news earlier this week. when they learned each family was gathering toys to give to children who lost everything in the storm, they teamed up with the goal to fill this truck outside of target in white matt schaub. >> schaub -- marsh. >> we never thought...
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Dec 10, 2012
12/12
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FBC
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david: hurricane sandy, so one figure that said it may have cost the lives of 250 cars. not all of them will be replaced, but most of them will be. it is an awful way to get it, but a boost for the auto industry, right? >> absolutely. many will be new cars, so you're looking at a nice boost in sales and the good thing is because these cars had they been replaced the normal cycle would noandnot have all come at once. do not take a bbg piece of the future buying cycle. a nice silver lining. david: now chrysler is an italian car company. the italians, the parent company is going to awful times. quitting because of the sales. is there any possibility. now they are not supposed to do this, but is there any possibility tie-ins will pour some of the profits they're making from chrysler here and use them to pay out the parent company in italy? >> i suppose the possibilities are always there. certainly talking about a global company to the extent you're doing better in one market and then another is always a bit of shifting around. at this point i think north america for all the
david: hurricane sandy, so one figure that said it may have cost the lives of 250 cars. not all of them will be replaced, but most of them will be. it is an awful way to get it, but a boost for the auto industry, right? >> absolutely. many will be new cars, so you're looking at a nice boost in sales and the good thing is because these cars had they been replaced the normal cycle would noandnot have all come at once. do not take a bbg piece of the future buying cycle. a nice silver lining....
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Dec 3, 2012
12/12
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KQED
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. >> rose: joining me now is celia sandys, winston churchill's granddaughter, david reynold-- renolds of cambridge university, peter clarke on the recently published mr. churchill's profession and i am pleased to have all of them here at this table. thank you. >> rose: i so looked forward to this i was go-going to tell a story that i once went to see christopher stones and he showed me something that he had received and had learned from winston churchill was how to diagram a speech, you know, in terms of indentation so that when you read it you read it win flexion and passion you know clearly about this is that what it said. >> he srt of sloped each paragraph. >> so you instantly had a sense to make the reading of it more as if you were simply coming from your heart. >> it is frankly boring to actually go when you set it out. and you don't have a secretary to do it, it's not so easy to make it. >> it's a lot of work but it is very much easier. >> was the love of language and words did it come early to churchill? >> i think so, he said that because he was a hi school dropout, he was ri
. >> rose: joining me now is celia sandys, winston churchill's granddaughter, david reynold-- renolds of cambridge university, peter clarke on the recently published mr. churchill's profession and i am pleased to have all of them here at this table. thank you. >> rose: i so looked forward to this i was go-going to tell a story that i once went to see christopher stones and he showed me something that he had received and had learned from winston churchill was how to diagram a speech,...
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Dec 5, 2012
12/12
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CURRENT
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. >> 69% of new york state residents believe climate change was responsible for hurricane sandy. according to a sienna research institute poll that was released yesterday afternoon 69% of the people in new york state believe a hoax. 69% of the people of new york state prove that you can politicize science turn it into a political issue and then forge political agreement and association on that basis with it. >> exactly what scientists predicted would happen and it happened. >> stephanie: all right. sexy liberal hal sparks next i'm going to be on with the governor tomorrow night. she is awesome. we'll be right back on the "stephanie miller show." ñ [ ♪ theme ♪ ] >> stephanie: hello it current tv world. hour number three. sexy liberal hal sparks on his way. of all of the electoral gifts this one keeps giving, which one makes you happier? fox news puts karl rove on the bench or elizabeth warren to sit on banking committee? >> i'm going to go with elizabeth warren on the banking committee. >> stephanie: another little nugget. maxine waters to take over for barney frank on the ba
. >> 69% of new york state residents believe climate change was responsible for hurricane sandy. according to a sienna research institute poll that was released yesterday afternoon 69% of the people in new york state believe a hoax. 69% of the people of new york state prove that you can politicize science turn it into a political issue and then forge political agreement and association on that basis with it. >> exactly what scientists predicted would happen and it happened. >>...
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Dec 7, 2012
12/12
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FOXNEWSW
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. ♪ bill: there is a new report that super storm sandy cost the economy $60 billion, for lost productivity and output. rick leventhal is live in staten island, new york where some industries have actually benefitted. what is the story there, rick? >> reporter: of koerbs, bil course, the businesses directly in the storm surge, retail and restaurants a lot of them have suffered dramatically. other businesses, contractors and home improvement have done very, very well. roofers, landscapers, electrical contractors. this couple run a electrical business and you guys have been crazy busy right? >> yes, since the storm we had hen emergency influx of emergency work. we are aeurbl to hire back some of the people we had laid off and we are looking to hire more people to handle the work that is coming in. >> reporter: you have more work than you can even do yourselves. >> wyatt this point. >> reporter: and you see what, no end in sight? >> we see this generating a very long term, at least a year, two years hopefully. >> reporter: it's great that they are actually able to employ other people as well.
. ♪ bill: there is a new report that super storm sandy cost the economy $60 billion, for lost productivity and output. rick leventhal is live in staten island, new york where some industries have actually benefitted. what is the story there, rick? >> reporter: of koerbs, bil course, the businesses directly in the storm surge, retail and restaurants a lot of them have suffered dramatically. other businesses, contractors and home improvement have done very, very well. roofers,...
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Dec 4, 2012
12/12
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the state of new jersey estimates the economic impact of hurricane sandy at $40 billion. >> can you believe that? $40 billion. it's astounding, every day the suffering continues. >> governor chris christie is expected to come to washington to press his case. both christie and andrew cuomo are asking for full compensation. the white house is expected to ask congress for more money to cover the cost of disaster response and recovery from the storm. and helping to boost auto sales, giving the industry its best numbers in four years. analysts are optimistic the trend will continue as cars on the road, age and need replacing. ford plans to up its production by 11%, convinced that consumers will continue to buy and as we know have been on the cutting edge of growth. they really have. >> we have senator coburn, form er national security adviser dr. brzezinski and senator claire mccaskill. >> that's a great show. ♪ you are my sunshine, my only sunshine ♪ ♪ you make me happy [ female announcer ] choose the same brand your mom trusted for you. children's tylenol, the #1 brand of pain and fever
the state of new jersey estimates the economic impact of hurricane sandy at $40 billion. >> can you believe that? $40 billion. it's astounding, every day the suffering continues. >> governor chris christie is expected to come to washington to press his case. both christie and andrew cuomo are asking for full compensation. the white house is expected to ask congress for more money to cover the cost of disaster response and recovery from the storm. and helping to boost auto sales,...
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Dec 6, 2012
12/12
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CNNW
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the republican governor was here in washington to talk about hurricane sandy relief efforts, and now they're in danger of going over the fiscal cliff with the rest of the country at the end of the month. our national political correspondent jim acosta has been covering this story for us. what's the latest with chris christie in washington. >> reporter: this is some of the unintended consequences of the fiscal cliff. after a series of meetings with the president and house speaker john boehner, new jersey governor chris christie had little to say as he left washington, but as other senators we spoke to see it, the jersey shore may be running head on into the fiscal cliff. he visited the president at the white house, then he met with senators from his own state before slipping in to meet the speaker of the house. >> going home, guys. see you later. >> reporter: but then chris christie, a potential presidential candidate who is rarely at a loss for words, departed the nation's capital in near total silence. as it turns out, the new jersey governor's quest for money to rebuild the battere
the republican governor was here in washington to talk about hurricane sandy relief efforts, and now they're in danger of going over the fiscal cliff with the rest of the country at the end of the month. our national political correspondent jim acosta has been covering this story for us. what's the latest with chris christie in washington. >> reporter: this is some of the unintended consequences of the fiscal cliff. after a series of meetings with the president and house speaker john...
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Dec 3, 2012
12/12
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CNNW
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governor cuomo said new york needs more than $40 billion to help clean up the damage caused by superstorm sandy and then potentially to prepare for future storms. >>> at least 49 elementary school students and adults had to be rushed to an atlanta hospital today because of a carbon monoxide leak. here is the thing. firefighters discovered the highest levels they have ever recorded of the deadly gas near the school's furnace. listen to the firefighter. >> obviously with carbon monoxide, the danger is going to be an affix ant, it could stop people from breathing. these children have been in the classroom since 7:30. our readings in the classroom were not quite as high as our reading at 1700 was near the actual furnace area. >> want to bring in george howell here. you brought in what i can only presume is a carbon monoxide detector. tell me about it and were there any of these in the school? >> this say professional carbon monoxide detector. this is what we use here at the cnn center. this will run you a couple thousand dollars. couple thousand of dollars for this. it is important to check. but fo
governor cuomo said new york needs more than $40 billion to help clean up the damage caused by superstorm sandy and then potentially to prepare for future storms. >>> at least 49 elementary school students and adults had to be rushed to an atlanta hospital today because of a carbon monoxide leak. here is the thing. firefighters discovered the highest levels they have ever recorded of the deadly gas near the school's furnace. listen to the firefighter. >> obviously with carbon...
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what are they celebrating, remember that they have not fallen to level that prevailed before hurricane sandy. what is more, there are few if any indications they will get that that neck of the woods any time soon. big layoffs at citigroup, what is that 11,000? lingering fallout from thousands of jobs lost at hostess. all i'm saying is, when you look at this news, and it still interpreted as good, only make me thing, that mainstream media is still pushing for the president or democrats. well, the guy got reelected. you don't have to pretend any more, it upsets me, tye young, what do you make of this. >> neil thank you, we have wall street laying people off, main street laying people off, market flat lining up and down one week to the next. just like it was before it crashed in 2008, unemployment number 7 .9% that is very high, real unemployment maybe is almost 17%, and the washington post tells us that ignore it because of hurricane sandy, that is ridiculous. my clients are business owners, they tell me that the cost of living and cost of doing business is going up, the availability of busine
what are they celebrating, remember that they have not fallen to level that prevailed before hurricane sandy. what is more, there are few if any indications they will get that that neck of the woods any time soon. big layoffs at citigroup, what is that 11,000? lingering fallout from thousands of jobs lost at hostess. all i'm saying is, when you look at this news, and it still interpreted as good, only make me thing, that mainstream media is still pushing for the president or democrats. well,...
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Dec 2, 2012
12/12
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CNNW
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american infrastructure was in poor shape even before sandy hit. the american society of civil engineers gives u.s. infrastructure a grade of d. guess what? energy infrastructure did a bit better. it got a d-plus. the u.s. is spending money on the electrical grids and power plants. $566 billion by 2020. but according to the american society of civil engineers, that falls short by more than $100 billion. so what would the u.s. get. for that $100 billion an extra $11 billion every year? let me tell you, the american society of civil engineers says if you spend the $11 billion this is a multiplier effect, you get an extra $55 billion in economic output. it would protect 461,000 jobs. it would generate $73 billion in disposable personal income and create in disposable personal income. michael grunwald is the author of the new deal, the hidden story of change in the obama era. in his book, he argues for increased investment in energy infrastructure. mike, welcome to the show. you say that the electrical grid is slowly actually improving. we have any of
american infrastructure was in poor shape even before sandy hit. the american society of civil engineers gives u.s. infrastructure a grade of d. guess what? energy infrastructure did a bit better. it got a d-plus. the u.s. is spending money on the electrical grids and power plants. $566 billion by 2020. but according to the american society of civil engineers, that falls short by more than $100 billion. so what would the u.s. get. for that $100 billion an extra $11 billion every year? let me...
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Dec 7, 2012
12/12
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MSNBCW
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well, they are better than we thought they would be because it doesn't have any impact of hurricane sandy. there wasn't a big displacement of people looking for work. now, let's get a couple of things down here, though, to start with. there are still 12 million unemployed americans. the unemployment rate fell for reasons that we don't like very much. people leaving the labor force. this is a better report than we expected it to be but still not a great report. >> now the question is, what goes on with the fiscal cliff? could the number get any better? >> i think that is the hope on wall street and republicans that have been talk ug for years and of the business community and to start spending down their profits and there might be a better sort of ofavalanche, if u will. the question is, what does that deal have to look like to unleash those hopes? it probably has to be something permanent and not a punt. >> the republicans talked about two things, though. one, as you say, is about certainty and they say that businesses need that certainty to start hiring but they've also warned that if ta
well, they are better than we thought they would be because it doesn't have any impact of hurricane sandy. there wasn't a big displacement of people looking for work. now, let's get a couple of things down here, though, to start with. there are still 12 million unemployed americans. the unemployment rate fell for reasons that we don't like very much. people leaving the labor force. this is a better report than we expected it to be but still not a great report. >> now the question is, what...
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Dec 5, 2012
12/12
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FOXNEWSW
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superstorm sandy swept away their homes. now they are demanding action to protect against this kind of damage in the feature. [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. hi, i'm ensure clear... clear, huh? i'm not juice or fancy water. i've gotine grams of protein. that's three times more than me! [ female announcer ] ensure clear. nine grams protein. zero fat. in blueberry/pomegranate and peach. is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. megyn: as thousands in new york and new jersey struggle to rebuild their lives. residents in one hard-hit community want the government t
superstorm sandy swept away their homes. now they are demanding action to protect against this kind of damage in the feature. [ male announcer ] where do you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. hi,...
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Dec 5, 2012
12/12
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CNBC
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the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's start with bigger of the two deals. freeport's purchase of plains. approximately $6.9 billion in total now. it's a cash and stock deal. .6531 shares and 39 bucks a share in cash. that adds up to $50 a share. that's a fairly significant premium when we look at
the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal....
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Dec 10, 2012
12/12
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FBC
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the jerseys can industry suffered the biggest drop thanks to superstar sandy. atlantic city's casino revenue slipped nearly 28%. each of the city's 12 casinos reported declines with for down for a month. we continue our "countdown to the closing bell" with liz claman. liz: the fiscal cliff talk is everywhere, always good to be hearing about lately, but is there really something else that can be bubbling under the surface that could send the market into a tailspin that we should be talking about now? join me in a fox business exclusive, 2003 nobel laureate in economics and nyse will institute director. he has a whole institute for volatility. spotting risk. we thought let's bring you in and talk about noo the fiscal cliff of the three hidden risks people should be talking about but aren't. how did you identify them? >> there are lots of things people worry about, but which of the really big ones and what kind of a timefram time frame ae talking about? decade?out next week or next we talk about the big risk to have to look further in the future. liz: the next yea
the jerseys can industry suffered the biggest drop thanks to superstar sandy. atlantic city's casino revenue slipped nearly 28%. each of the city's 12 casinos reported declines with for down for a month. we continue our "countdown to the closing bell" with liz claman. liz: the fiscal cliff talk is everywhere, always good to be hearing about lately, but is there really something else that can be bubbling under the surface that could send the market into a tailspin that we should be...
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also matt mccormick, sandy lincoln, and john spolinsani. what do we do between now and the end of the year? >> we wait. you hope there will be a resolution with the fiscal cliff. also 2013 could be a difficult year. it's the first year of the presidential term which is usually a weak un. earnings growth looks a little bit weaker. we are very big on di dends. we believe this is a grinded out market. prepare for instability. >> so it's glass half empty for you right now. >> we'd like to be optimistic but tell clients buy with sound balance sheets. and if the market goes up better, we're in a better position. >> i have to press you on what you say about you like companies that pay better dividends? >> right now you're looking at the. senate bill will will tax for gross incomes of $250,000. that's not a deal killer. there was an article this week talking about how dividends -- people buy dividends for income and downside protection. those issues do not go away regardless of what happens with taxes. people need income. >> you told us last time y
also matt mccormick, sandy lincoln, and john spolinsani. what do we do between now and the end of the year? >> we wait. you hope there will be a resolution with the fiscal cliff. also 2013 could be a difficult year. it's the first year of the presidential term which is usually a weak un. earnings growth looks a little bit weaker. we are very big on di dends. we believe this is a grinded out market. prepare for instability. >> so it's glass half empty for you right now. >> we'd...
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the new book that what has been impacted by sandy. there is some conflicting information coming out. cheryl: we start to look at the data you get into the data better. if you have 7.7 unemployment rate, it fell because people dropped out of the labor force. were they cleaning up basement somewhere in the northeast, where they hoping volunteer? >> or could they just not get to whereethey needed to go. this is so important. look at the trend line. job creation has been around 150,000. the labor participation rate continues to drop. that has been a big concern. cheryl: 369,000 said yes to being out to work because of the weather. there is a lot of anxiety about our investment as we get towards the end of the month. >> it is all about financial strength and strong balance sheets. the economy continues to chug along and approve slowly. but slowly we are being weighed down by the fiscal cliff. cheryl: that means a new year's eve selloff. >> you will not time it if you are an investor. focus on companies that have strong balance sheets, pay
the new book that what has been impacted by sandy. there is some conflicting information coming out. cheryl: we start to look at the data you get into the data better. if you have 7.7 unemployment rate, it fell because people dropped out of the labor force. were they cleaning up basement somewhere in the northeast, where they hoping volunteer? >> or could they just not get to whereethey needed to go. this is so important. look at the trend line. job creation has been around 150,000. the...
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Dec 6, 2012
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instead of saying bill and sandy is down a little today. you say we have a problem here. you think it is a identification of a mood disable that we didn't want to deal with. >> yes and no. we took things and medicalized them. we put a label on them . when you put other people's money behind and tax dollars behind them, guess what, you get an epidemic . this is one of those momes and say. do we want a safety net that is targeted at the generally misabled or creating another program for the takers in this society. it baloned to 130 billion a year and no indication it is going to slow down soon. quite frankly, the whole aproachh of the american with disabilities act. what this program is doing is saying, you don't have to work, we'll create a permanent alternative and unfortunately that means a lot of people are figuring out it is assesser to collect these checks than it is to get a job and integrate in society and learned what earned success is all about. >> steve: it could be a sign of a lowsy economy. so many people who need jobs and as you have detailed, it is relatively
instead of saying bill and sandy is down a little today. you say we have a problem here. you think it is a identification of a mood disable that we didn't want to deal with. >> yes and no. we took things and medicalized them. we put a label on them . when you put other people's money behind and tax dollars behind them, guess what, you get an epidemic . this is one of those momes and say. do we want a safety net that is targeted at the generally misabled or creating another program for the...
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the company is blaming superstorm sandy for its lackluster performance. republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of ambassador anna wintour. i couldn't wait for the normal time. i'm going to do it early. stay right there. and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. that's why ally has ia raise your rate cd.n. ally bank. your money needs an ally. stuart: california high taxes, strict green laws, a liberal supermajority in the statehouse, not exactly business friendly. that's why so many businesses are leaving. they are going to places like phoenix. so we're going to talk to the mayor of phoenix. greg s
the company is blaming superstorm sandy for its lackluster performance. republicans submitted their solution to the fiscal cliff yesterday. white house and other democrats dismissed it immediately. take a look at how that affected the market this morning. not at all. the dow is up 43. 13,000 is where we are. liz macdonald says we will see is a last minute deal, christmas eve, new year's eve, on the fiscal cliff. we shall see. next, a special early my take. i am fired up about the prospect of...
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with doughnuts. >> bill: before we get to some of the political stuff hurricane sandy may have left us with one message which is global warming is real, climate change is real. you better start dealing with it. there is another person who delivered that message yesterday, the national oceanic and atmospheric association came out with a report, once again more evidence of climate change. here she is. the administrator. >> in 2012 we saw record lows in the amount of sea ice in the summertime and snow in the springtime. >> bill: so director lump enco says no doubt about it, it is upon us. >> climate change is with us. it is happening now. it is something we need to take seriously. >> bill: yeah. quick, somebody tell members of congress -- we simply hope that president obama will seize the moment and use his new powers to get something done on climate change this term. when he didn't, the first term. evan mcmorris -- santoro -- i didn't know whether the name was backwards. >> there are three of them. >> bill: three names always throws me. >> not santorum. >> i did go out on the campaign tr
with doughnuts. >> bill: before we get to some of the political stuff hurricane sandy may have left us with one message which is global warming is real, climate change is real. you better start dealing with it. there is another person who delivered that message yesterday, the national oceanic and atmospheric association came out with a report, once again more evidence of climate change. here she is. the administrator. >> in 2012 we saw record lows in the amount of sea ice in the...
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Dec 10, 2012
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i'm worried about the sandy. you've got to keep interest in the end. insurance companies, got to keep capital free. >> i wanted to mention, we mentioned this on friday, the chinese have been aggressive, setting records in terms of merger and acquisition volume. we talked about this on friday, take a look across the borders from china, that helps the story. that $15 billion deal did get approved from the canadian government. they do own some assets in the gulf of mexico. although that is not expected to be problematic at this point. but take a look at what happened in the stocks on friday. that, after we received word there would be a statement from the canadian prime minister. that freaked a lot of risk arms out. did not have a lot of conviction here. thinking, why is it going to come out with a statement if they're approving the deal. you come out and say something if you weren't. but they did come out with a statement and indicated perhaps we won't see any more of these large deals. comp stock is up, as you might expect. >> you heard this deal will b
i'm worried about the sandy. you've got to keep interest in the end. insurance companies, got to keep capital free. >> i wanted to mention, we mentioned this on friday, the chinese have been aggressive, setting records in terms of merger and acquisition volume. we talked about this on friday, take a look across the borders from china, that helps the story. that $15 billion deal did get approved from the canadian government. they do own some assets in the gulf of mexico. although that is...
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Dec 5, 2012
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told us that on the east coast lots of potential workers, they took fema positions to help out with sandy recovery. many of those jobs last longer than what ups can offer. experts say that that's also part of the problem, but the fact that people want to hold out for more permanent better paying jobs, but, susan, one other thing here, the issue of filling positions isn't just in lower paying fields. there's currently a big skilled worker shortage, but one consulting group says it's not that there's not workers out there. it's that companies, they're being too selective about who they hire, and they don't pay competitive wages, suzanne. >> wow. complicated picture there, but yol a lot of people still out of work. some companies can't fill positions. thank you. appreciate it. >>> they're smart, right? they're playful? very intelligent. why would someone want to kill dolphins? we are searching for a killer. e just right. perfection is in the details. ♪ get to holiday fun faster with pillsbury cookie dough. hurry in and try five succulent entrees, like our tender snow crab paired with savor
told us that on the east coast lots of potential workers, they took fema positions to help out with sandy recovery. many of those jobs last longer than what ups can offer. experts say that that's also part of the problem, but the fact that people want to hold out for more permanent better paying jobs, but, susan, one other thing here, the issue of filling positions isn't just in lower paying fields. there's currently a big skilled worker shortage, but one consulting group says it's not that...
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Dec 4, 2012
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>> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better outturn. china seems to be back on track. is there anything in europe -- what's the tail risk at the moment? >> i think there's two things that could still go wrong in europe. one, there's always political risk. in italy, you do have elections coming up. there's a chance getting a higher share than people anticipate. but even then, the financial forces are going to force any government that comes into power to more or less stick to the plan morsi set out. on the other hand, there's always spain, the worries that with 25% unemployment, that you would see the default rate particularly on residential m
>> we know it will be worse than it would have been because of super storm sandy. so you didn't know how much it was to do with that and how much was the economy. so it will be a bit of a wash in terms of reading the tea leaves for the u.s. >> so the growth picture for the u.s., we sort of 1%, 2%, depending on what happens with the fiscal cliff. what do you think, 2.5%? >> yeah, i think we should be 2.5% to 3% by the end of next year. >> which might be a slightly better...
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Dec 6, 2012
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c-span3, the impact of hurricnae ane sandy. a bipartisan group of senators spoke to reporters today about the civil war in syria and the potential use of force against the regime of bashar al-assad. >> good afternoon. i'm here with my colleagues from the senate, senator lieberman, senator gramm. -- graham. we are deeply disturbed by reports that bashar al-assad may have lionized -- weaponized some of his stores of chemical and biological agents and prepare them for use in aerial bombs. these reports also suggest that his forces are awaiting orders to use these weapons. if true, these reports may mean that the united states and our allies are facing the prospect of an eminent use of weapons of mass destruction and syria, and this may be the last warning we get. time for talking about what to do may now be coming to a close, and we may instead be left with an awful and it's very difficult decision. whether to continue on the sidelines and hope that a man who has slaughtered nearly 40,000 men, women and children in syria will deci
c-span3, the impact of hurricnae ane sandy. a bipartisan group of senators spoke to reporters today about the civil war in syria and the potential use of force against the regime of bashar al-assad. >> good afternoon. i'm here with my colleagues from the senate, senator lieberman, senator gramm. -- graham. we are deeply disturbed by reports that bashar al-assad may have lionized -- weaponized some of his stores of chemical and biological agents and prepare them for use in aerial bombs....
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now we are about to make the same mistakes with respect to the clean up of sandy that we made when we wasted tens of millions with katrina. i am radical on this. my feeling is if we are going to help the victims, give the money to the victims. or to the salvation army or the red cross or the kinds of institutions we know are providing the real help. do not give it to the politics and the state. that is a middle class taking away 10 percent or 20 percent of the money. >>neil: who gave charlie for the money, i an herery of charlie, in had case, sam, uncle sam. how close to the $42 billion will the governor get or a comparable sum that the governors of new jersey and connecticut are looking at? >>guest: they will get almost all of it. when does congress say know to any of the people? our hearts bleed for the people who lost their homes to the terrible storm so you have the victims, they will put them on tv and say you got to give us the hundred and that brings me to a second point. if we are going to give, it will probably be well over $50 billion, why not have a policy when we have a cr
now we are about to make the same mistakes with respect to the clean up of sandy that we made when we wasted tens of millions with katrina. i am radical on this. my feeling is if we are going to help the victims, give the money to the victims. or to the salvation army or the red cross or the kinds of institutions we know are providing the real help. do not give it to the politics and the state. that is a middle class taking away 10 percent or 20 percent of the money. >>neil: who gave...
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superstorm sandy. would bring it down by about 80,000. on the other side of the equation, you actually had an early thanksgiving, which could have added some jobs as employers pulled forward their normal seasonal hiring. so the 146, or 147, is about the same as- > 147,000 jobs created. > > right. is about the same as what has been created over the last two years. in 2011 the number was about 150,000 on average. in 2012, 150,000 on average. > it's also based on - at least the unemployment rate of 7.7% - it went down a little bit - based on the fact that there were fewer people looking for work, not more people finding work. > > sure. at the end of the day, i think there are really two things, and i harp on these each and every time i come on the show, that are kind of driving unemployment in this country. one, i think there's a structural problem. i don't think the fed is going to be able to have people create more jobs, because there is a problem with a mismatch of skills. there are two articles in friday's wall street journal that kind o
superstorm sandy. would bring it down by about 80,000. on the other side of the equation, you actually had an early thanksgiving, which could have added some jobs as employers pulled forward their normal seasonal hiring. so the 146, or 147, is about the same as- > 147,000 jobs created. > > right. is about the same as what has been created over the last two years. in 2011 the number was about 150,000 on average. in 2012, 150,000 on average. > it's also based on - at least the...
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Dec 7, 2012
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hurricane sandy, though, still making waves. analysts expect the super storm to dent unemployment figures out later today. we'll review that report when we come back. >>> here are the headlines. u.s. job growth is expected to have slowed significantly in november as hurricane sandy battered the economy. japanese authorities have lifted all tsunami warnings after a 7.3 magnitude quake struck off the northeastern coast. and bundesbank has sharply lowered germany's growth outlook from 1.6 to a mere 0.4%. it's warned of an imminent recession as problems in europe periphery weigh. futures at the moment forecasts a soft start. down 15 at the moment on the dow, nasdaq currently called down 3.8, and s&p 500 around 1.5 points. european stocks are flat really. forgave points for the ftse, xetra dax is up though at it highest level since 2008. up nearly 28% this year. flat on the cac, ibex down two thirds. but hurricane sandy is expected to have put a pretty big accident in the november u.s. jobs report. it's out at 8:30 eastern. nonfarm p
hurricane sandy, though, still making waves. analysts expect the super storm to dent unemployment figures out later today. we'll review that report when we come back. >>> here are the headlines. u.s. job growth is expected to have slowed significantly in november as hurricane sandy battered the economy. japanese authorities have lifted all tsunami warnings after a 7.3 magnitude quake struck off the northeastern coast. and bundesbank has sharply lowered germany's growth outlook from 1.6...
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Dec 8, 2012
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and all this despite the effects of hurricane sandy. who knows how high we could have been if it weren't for that darn hurricane? yet the market barely blinked. yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. hence the mixed performance of the averages today. sure, dow gained 81 points, but the s&p barely budged, edging up 29%. and the nasdaq actually declined .38%, led once again by the slip sliding away apple, which you know i like, but how many times during a particular show can i say i like it? so with that in mind, what's the game plan for next week? first off, perhaps the most important day of the week is monday. but not for any earnings. not for any releases. that's when we process the results of the weekend talk shows, which you now have to watch as if we were instead of watching, you know, college gameday, i'm watching like some of those other news stations -- and then of course sunday morning whoever -- you don't even pay attention -- football means nothing no
and all this despite the effects of hurricane sandy. who knows how high we could have been if it weren't for that darn hurricane? yet the market barely blinked. yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. hence the mixed performance of the averages today. sure, dow gained 81 points, but the s&p barely budged, edging up 29%. and the nasdaq actually declined .38%, led once again by the slip sliding away apple, which you...
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fire for reselling tickets to the sold out 12-12-12 concert benefiting those affected by hurricane sandy. so stub hub is reselling tickets. the roling stones, alicia keys and other top bands are slated to play. proceeds will benefit the robin hood foundation. some people are upset scalpers ra raising prices to make a buck. stub hub says it will donate 100% of service fees and commissions for this event to the robin hood relief fund and goes on to say sellers listing tickets have the option to donate their proceeds to the fund among other charities. >> also backlash from the new york city marathon which organizers canceled because of sandy. when the race was called off in november, organizers had guaranteed runners a spot in next year's race. however, a message posted on the marathon's facebook page says, this year's race does not -- does count on the point system, which will help runners clinch a slot in 2013. there's also no mention of a guarantee this time. >> uh-oh. >>> we're dealing with gloomy conditions in our region. >> let's take you live right now, you want to be careful on the
fire for reselling tickets to the sold out 12-12-12 concert benefiting those affected by hurricane sandy. so stub hub is reselling tickets. the roling stones, alicia keys and other top bands are slated to play. proceeds will benefit the robin hood foundation. some people are upset scalpers ra raising prices to make a buck. stub hub says it will donate 100% of service fees and commissions for this event to the robin hood relief fund and goes on to say sellers listing tickets have the option to...
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from his state some republicans say he is grandstanding christy has gone on the record saying that sandy's victims are its first concern, not politics kate middleton has been released from the hospital in london apparently feeling much better the duchess spend three days in that hospital for treatment over to morning sickness she is expected to stay at kensington palace for some rest. the due date hasn't been announced but she is not yet 12 weeks pregnant the first day in the nation to legalize marijuana for recreational use washington state. under the state law now anyone over 21 years of age is allowed to carry up to 1 oz, pot use and possession under anyone 21 is still a violation. the justice department is reviewing the law because federal law still prohibits death. the federal government can come in just end this but i hope obama if you are listening right now if you have compassion for everybody out here. coming up in the medical watch tackling a growing problem increasing injuries how to make sure your charitable donation is going to a worthy cause. cheerleaders injuries are skyrock
from his state some republicans say he is grandstanding christy has gone on the record saying that sandy's victims are its first concern, not politics kate middleton has been released from the hospital in london apparently feeling much better the duchess spend three days in that hospital for treatment over to morning sickness she is expected to stay at kensington palace for some rest. the due date hasn't been announced but she is not yet 12 weeks pregnant the first day in the nation to legalize...
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. >> susie: american automakers got a bump up in sales in november, thanks to super storm sandy. consumers postponed purchases when the hurricane hit in october, and resumed buying last month. but as diane eastabrook reports, the looming fiscal cliff could cause that sales momentum to lose traction. >> reporter: november turned out to be a good month for the big three and a great month for their foreign competitors. g.m. and ford both saw a modest uptick in vehicle sales last month-- while chrysler got a double digit boost. but competitors from europe and japan blew the domestics doors off. sales at v.w. were up just under 30%. while honda led the japanese pack with a sales increase of just under 40%. the car companies think super storm sandy pushed some sales the last weekend of october into november. morningstar auto analyst richard hilgert agrees sandy helped, but the storm wasn't the primary reason november was such a strong month. >> we've got a lot of pent up demand still out there-- pent up demand coming from, especially from the average age of the vehicles being over elev
. >> susie: american automakers got a bump up in sales in november, thanks to super storm sandy. consumers postponed purchases when the hurricane hit in october, and resumed buying last month. but as diane eastabrook reports, the looming fiscal cliff could cause that sales momentum to lose traction. >> reporter: november turned out to be a good month for the big three and a great month for their foreign competitors. g.m. and ford both saw a modest uptick in vehicle sales last...
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Dec 9, 2012
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a lot has to do with post sandy. the supply is back up and the hope is that consumers will take the money and spend it shopping. >> that is the hope. and jobs number, better than expected. unemployment now to 7.7%. and bianna, people watching tonight, where are the jobs? >> that is the question. we did digging and not a surprise. retail up, $53,000 up in, and professional, hospitality and restaurants. and will it continue? they are not so sure given what is going on in washington. >> bianna, thank you. >>> in the nfl today, they were mourning their tragic loss. the dallas cowboys bowing their heads in a moment of silence to remember their teammate jerry brown who died in a car accident. another teammate, josh brent, was driving. he is charged with driving drunk and manslaughter. today in court, he is unable to make bail. he issued a statement sayingly live with this horrific loss any day of my life >>> there is more ahead. a break through when it comes to make helping your memory. what it could mean in the fight agai
a lot has to do with post sandy. the supply is back up and the hope is that consumers will take the money and spend it shopping. >> that is the hope. and jobs number, better than expected. unemployment now to 7.7%. and bianna, people watching tonight, where are the jobs? >> that is the question. we did digging and not a surprise. retail up, $53,000 up in, and professional, hospitality and restaurants. and will it continue? they are not so sure given what is going on in washington....
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Dec 5, 2012
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obviously sandy falls in that as a catastrophic disaster. it will be in addition to existing disasters we are working. >> some of the temporary housing assistance be provided will soon be expiring. but there be opportunities for renewal? you've heard one of the things he wanted to do was have had to explain what they doing and will not be sufficient? we were in new york and also manhattan, which is a whole unique venue for disaster in staten island, i guess long island, new jersey has very unique housing requirements and also higher costs. hud has committed to in the president says they will coordinate with your efforts. >> mr. chairman, the housing program were actually looking at three pretty substantial areas. the first was the temporary sheltering and that is where maybe the home was destroyed but they couldn't get back in. they had power outages or other damages. we would provide in cooperation state request on a car share basis short-term, namely hotels, motels measured in weeks and we are extending as the states requested. the traditi
obviously sandy falls in that as a catastrophic disaster. it will be in addition to existing disasters we are working. >> some of the temporary housing assistance be provided will soon be expiring. but there be opportunities for renewal? you've heard one of the things he wanted to do was have had to explain what they doing and will not be sufficient? we were in new york and also manhattan, which is a whole unique venue for disaster in staten island, i guess long island, new jersey has...
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Dec 7, 2012
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why is that not considered sandy related? >> it is weird because there are two different surveys when you look at these jobs numbers. one comes from the businesses. the businesses, they take that survey, november 12th, and the businesses are for the job creation number. the other survey is called a household survey. that's how we determine the unemployment rate. and part of that household survey is did you look for a job last week, yes, no, and why not? so a lot of people said weather related. when i was digging into the numbers, i said a normal november, weather related, about 60,000, here we had 300,000, that's one of the reasons we saw the unemployment rate go down. look, i want to feel good about the unemployment rate being low, but 7.7% happened because fewer people were part of the labor force. that's not the right reason that we wanted to see the jobless rate go down. >> absolutely. and i want to read you something that paul krugman wrote in the new york times earlier this week. he said, long-term unemployment remains
why is that not considered sandy related? >> it is weird because there are two different surveys when you look at these jobs numbers. one comes from the businesses. the businesses, they take that survey, november 12th, and the businesses are for the job creation number. the other survey is called a household survey. that's how we determine the unemployment rate. and part of that household survey is did you look for a job last week, yes, no, and why not? so a lot of people said weather...
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. >>> superstorm sandy is widely thought to have slowed the u.s. job growth last month. the only question is how much. an answer is expected to emerge from the government's job report from november which is due out today. meanwhile new jersey's governor paid a visit to president obama yesterday asking for money to help his state rebuild. the storm destroyed 80% of this sea side heights community and left the famous boardwalk in pieces. governor chris christie says it will take $37 million to rebuild that area. the president is expected to ask congress for $50 billion but that will not cover the $83 billion that new york, new jersey and connecticut are already asking for now. >>> same-sex couples can now apply and receive marriage lrnses in maryland -- licenses in maryland. on the first day yesterday, just a few couples around the state actually went to clerks' offices to pick up listens. they have to wait -- licenses. they have to wait till 12:01 on new year's day. montgomery county's new licenses say party one and party two. prince george's county plans to issue one lic
. >>> superstorm sandy is widely thought to have slowed the u.s. job growth last month. the only question is how much. an answer is expected to emerge from the government's job report from november which is due out today. meanwhile new jersey's governor paid a visit to president obama yesterday asking for money to help his state rebuild. the storm destroyed 80% of this sea side heights community and left the famous boardwalk in pieces. governor chris christie says it will take $37...
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Dec 7, 2012
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you had sandy. i mean, it may be -- the journal argued it's the least important jobs number in five years. >> i saw that. i do think one thing we can certainly say given that china seems to be stabilizing a bit, we can all discuss europe. greek situation. maybe it's off the front pages for a while. and so if we assume that the jobs picture in the u.s. is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a theory of how i could cause a recession. i would cut back government spending quickly. >> i would raise interest rates to 20%. >> bernanke ought to join the -- look, i think
you had sandy. i mean, it may be -- the journal argued it's the least important jobs number in five years. >> i saw that. i do think one thing we can certainly say given that china seems to be stabilizing a bit, we can all discuss europe. greek situation. maybe it's off the front pages for a while. and so if we assume that the jobs picture in the u.s. is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one...
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now, again, back to hurricane sandy. from the commissioner's statement, the storm we saw happen on october 29th, the next pay period ended on november 12th. the way bls essentially keeps score it says workers have to be off work for the entire pay period to be counted on the negative side. on the household survey side, persons who missed work for weather-related events are counted as employed whether or not they are paid for the time off. we did have a drop in the labor force participation rate, down 0.2 to 63.6%. how did we get to 7.7% unemployment? basically the number of unemployed persons dropped more than the number of employed and there were downward trends in both those categories. lots to chew on. back to you guys. >> hampton, thank you. we are kind of scratching our heads. let's get more reaction from our panel. mark zandi and jared bernstein are here with us. mark, what do you make of this number? we've set this up as numbers were not going to be things we watched closely because of sandy. >> i'd say two things
now, again, back to hurricane sandy. from the commissioner's statement, the storm we saw happen on october 29th, the next pay period ended on november 12th. the way bls essentially keeps score it says workers have to be off work for the entire pay period to be counted on the negative side. on the household survey side, persons who missed work for weather-related events are counted as employed whether or not they are paid for the time off. we did have a drop in the labor force participation...